SAN ANTONIO — Former NASCUS chairman George Reynolds receivedthe organization's Pierre Jay Award, which honors contributions tostate-chartered credit unions.

“George exemplifies the meaning of the Pierre Jay Award, and Ican't think of anyone more deserving,” said NASCUS Chairman TomCandon. “His contributions to NASCUS have clearly strengthened thisorganization. We are grateful that we can recognize him for hisdedication to regulatory professionalism and his commitment tomaking the state system better and stronger during his career.”

Reynolds, who retired earlier this year after a 34-year careeras a state regulator in Georgia, chaired NASCUS from 2007 to 2009.During that time, he testified on Capitol Hill about the importanceof preserving the dual chartering system and on the need to allowcredit unions to accept secondary capital.

The award, which NASCUS has given annually since 1997, is namedfor Pierre Jay, who was the first banking commissioner ofMassachusetts and granted the first state charter to a creditunion.

Reynolds received the award during the luncheon on the openingday of the NASCUS State System Summit.

At the conference, three NASCUS board members began serving newthree-year terms: Candon, the deputy commissioner of banking andsecurities for the Vermont Department of Banking, Insurance,Securities and Health Care Administration; Sue Cowan, the directorof the Wisconsin Office of Credit Unions; and Linda Jekel, thedirector of the Washington Division of Credit Unions. Jekelpreceded Reynolds as chairman of NASCUS.

Candon's two-year term as chairman runs through September 2011.The board also re-elected Orla Beth Peck, supervisor of creditunions at the Utah Department of Financial Institutions, aschairman-elect and Cowan as secretary-treasurer.